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Asian central banks ready to act against market volatility

RBI chief, for example, signals willingness to prop up the rupee while Seoul talks about need to calm markets

Published Mon, Aug 24, 2015 · 09:50 PM
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Hong Kong

ASIAN central banks from India to South Korea said they're ready to offset market volatility that has swept the region and sent stocks and currencies sharply lower.

The comments came as all major Asian markets dropped on Monday, with share prices falling the most since 2007 in China. Much of the selling pressure is being blamed on China's ongoing slowdown and its sudden move on Aug 11 to change its exchange rate regime, triggering the yuan's biggest loss in two decades.

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